Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Up 14.6% in March

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 337,400 shares, an increase of 14.6% from the March 15th total of 294,500 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 169,100 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their target price on shares of Acurx Pharmaceuticals from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 19th.

Institutional Trading of Acurx Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its position in Acurx Pharmaceuticals by 37.5% in the 2nd quarter. Osaic Holdings Inc. now owns 22,000 shares of the company’s stock valued at $58,000 after purchasing an additional 6,000 shares during the last quarter. Sigma Planning Corp purchased a new stake in Acurx Pharmaceuticals in the 4th quarter valued at $38,000. BlackRock Inc. raised its position in Acurx Pharmaceuticals by 149.8% in the 1st quarter. BlackRock Inc. now owns 16,699 shares of the company’s stock valued at $55,000 after purchasing an additional 10,014 shares during the last quarter. NBC Securities Inc. purchased a new stake in Acurx Pharmaceuticals in the 1st quarter valued at $34,000. Finally, Northern Trust Corp purchased a new stake in Acurx Pharmaceuticals in the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

Shares of Acurx Pharmaceuticals stock opened at $1.77 on Monday. The company has a fifty day simple moving average of $2.63 and a 200-day simple moving average of $3.38. Acurx Pharmaceuticals has a 12-month low of $1.17 and a 12-month high of $8.82.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.12). Equities research analysts forecast that Acurx Pharmaceuticals will post -0.97 earnings per share for the current year.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. The company's lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that has completed Phase IIa clinical trial to treat patients with clostridium difficile infections.